Artisan Partners Asset Management (NYSE:APAM) Raised to Buy at StockNews.com

Artisan Partners Asset Management (NYSE:APAM) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

Several other equities research analysts also recently commented on APAM. TD Cowen boosted their price objective on Artisan Partners Asset Management from $41.00 to $43.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Royal Bank of Canada restated an “outperform” rating and set a $50.00 price target on shares of Artisan Partners Asset Management in a research note on Monday, July 29th. Finally, The Goldman Sachs Group dropped their price objective on shares of Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Artisan Partners Asset Management currently has a consensus rating of “Hold” and an average target price of $44.17.

Artisan Partners Asset Management Price Performance

Shares of NYSE APAM opened at $48.99 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $3.94 billion, a PE ratio of 13.65 and a beta of 1.79. The firm has a fifty day simple moving average of $42.94 and a 200 day simple moving average of $42.35. Artisan Partners Asset Management has a twelve month low of $34.94 and a twelve month high of $49.30.

Artisan Partners Asset Management (NYSE:APAM) last released its earnings results on Tuesday, October 29th. The asset manager reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. Artisan Partners Asset Management had a return on equity of 71.51% and a net margin of 23.95%. The business had revenue of $279.60 million during the quarter, compared to analysts’ expectations of $279.70 million. During the same quarter last year, the firm posted $0.75 earnings per share. The firm’s revenue was up 12.4% on a year-over-year basis. On average, sell-side analysts forecast that Artisan Partners Asset Management will post 3.49 EPS for the current year.

Hedge Funds Weigh In On Artisan Partners Asset Management

Institutional investors have recently bought and sold shares of the company. Matrix Trust Co purchased a new stake in Artisan Partners Asset Management during the third quarter valued at about $30,000. GAMMA Investing LLC grew its stake in Artisan Partners Asset Management by 81.5% in the 2nd quarter. GAMMA Investing LLC now owns 775 shares of the asset manager’s stock valued at $32,000 after buying an additional 348 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in Artisan Partners Asset Management by 41.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,004 shares of the asset manager’s stock valued at $43,000 after acquiring an additional 296 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Artisan Partners Asset Management by 735.9% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,212 shares of the asset manager’s stock worth $52,000 after acquiring an additional 1,067 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Artisan Partners Asset Management in the second quarter worth $63,000. Hedge funds and other institutional investors own 86.45% of the company’s stock.

About Artisan Partners Asset Management

Artisan Partners Asset Management Inc is publicly owned investment manager. It provides its services to pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. funds, as well as mutual funds, non-U.S. funds and collective trusts.